DGAP-News: Greenworld Wind Power Finalizes Carbon Credit Agreement for Hydro Project in Tanzania
(firmenpresse) - DGAP-News: Greenworld Wind Power Co.Ltd. / Key word(s): Miscellaneous
Greenworld Wind Power Finalizes Carbon Credit Agreement for Hydro
Project in Tanzania
06.02.2012 / 11:49
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Greenworld Wind Power Finalizes Carbon Credit Agreement for Hydro Project
in Tanzania
Toronto, Canada - February 5, 2012 - Greenworld Wind Power Co. Ltd.
(Greenworld): Deutsche Börse symbol: GWDA (www.greenworldpower.ca), is
pleased to announce that it has finalized a revenue sharing agreement with
Katani Ltd. with respect to the Certified Emission Reduction (carbon
credits) with respect to a mini-hydro power project that Katani has planned
in Tanzania.
Under the terms of the agreement, Greenworld will finance the application
to qualify for carbon credits. In return, Greenworld will be entitled to
receive a percentage of revenues generated from the sale of the carbon
credits generated by the projects for the first 21 years of operation.
Based in Dersalaan, Tanzania, Katani is developing the 10 MW Mapembasi
Small Hydropower Project that will sell power to the Tanzania Electric
Supply Company (TANESCO), as well as local villages.
Under the terms of the agreement, Greenworld will be entitled to:
- 20% of revenues generated for the first 5 years;
- 12% for the following 9 years;
- 8% for the final 7 years of the agreement.
This is below the Company's initial estimates, but will still account for
significant revenues over the term of the contract. The total number of
carbon credits to be generated by the project are now estimated at 33,600
CERs annually, which is higher than the preliminary estimate of 26,500 per
year. Based on a projected value of EUR10 per CER, total revenue is
estimated to be EUR887,040.00 over the 21 year period.
As per previous announcements, Cornland International will be retained by
Greenworld to complete the actual analysis and verification processes
required by the Kyopto Protocol's Clean Development Mechanism.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of Greenworld Wind Power Co. Ltd.'s plans, goals and
expectations regarding its future financial condition, performance,
results, strategy and objectives. Words such as 'anticipates', 'expects',
'intends', 'plans', 'believes', 'seeks', 'estimates', 'may', 'could',
'would', 'might', 'will' and variations of these words or similar
expressions are intended to identify forward-looking statements. In
addition, any statements that refer to expectations, beliefs, plans,
projections, objections, performance or other characterizations of future
events or circumstances, including any underlying assumptions, are
forward-looking statements. Forward-looking statements in this press
release are not promises or guarantees of future performance and are
subject to risks and uncertainties that could cause Greenworld Wind Power
Co. Ltd.'s actual results to differ materially from those anticipated.
Greenworld Wind Power Co. Ltd. cautions the reader not to place undue
reliance upon any such forward-looking statements. These forward-looking
statements involve known and unknown risks as well as uncertainties,
including those discussed herein as well as the following: (i) domestic and
global economic and business conditions; (ii) market relatedrisks and the
performance of financial markets generally; (iii) the policies and actions
of regulatory authorities; (iv) the impact of competitive factors; (v)
risks and uncertainties associated with future acquisitions or combinations
within relevant industries; and (vi) changes in capital, solvency or
accounting standards as well as tax and other relevant legislation or
regulations in the jurisdictions in which Greenworld Wind Power Co. Ltd.
operates. The actual results that Greenworld Wind Power Co. Ltd. achieves
may differ materially from any forward-looking statements which are based
on management's beliefs and opinions at the time the statements are made.
Greenworld Wind Power Co. Ltd. does not undertake any obligation to update
forward-looking statements should circumstances or management's beliefs or
opinions change.
For further information please contact:
Greenworld Wind Power Co. Ltd.
100 Consillium Place
Suite 200
Scarborough, ON
M1H 3E3
Email: info(at) greenworldpower.ca
End of Corporate News
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